This excerpt taken from the NBG 20-F filed May 27, 2008.
Credit PolicyCredit Granting
The credit policies are communicated throughout the Bank by means of credit manuals and circulars, supplemented by bulletins and local directives on particular issues. The Bank has developed and implemented a credit manual for each of the above retail portfolios, following best banking practices. The credit manual is periodically revised.
The credit-granting processes and procedures are centralized. The rationale behind this organizational structure is three-fold:
Finally, through the development of portfolio models, our Risk Management Division is able to calculate, evaluate and monitor expected and unexpected losses for all portfolio asset classes and segments.